US Stock Market Move | XPeng, Inc. ADR Sponsored Class A (XPEV.US) fell more than 4%, Xiaopeng G7 will officially go public next week.

On Thursday, XPeng, Inc. ADR Sponsored Class A (XPEV.US) fell more than 4%, to $18.30. In terms of news, XPeng, Inc. ADR Sponsored Class A's new mid-sized all-electric SUV, the Xiaopeng G7, will officially launch next week (June 30th - July 6th). Previously, the car had started pre-sale at a price of 235,800 yuan, and due to its excellent product quality, pre-sale surpassed 10,000 units in just 46 minutes, with unprecedented market popularity. After its official release, the Xiaopeng G7 will compete fiercely with popular models such as Xiaomi YU7 and Tesla, Inc. Model Y. On the evening of June 26th, Xiaomi's first SUV, the Xiaomi YU7, was officially released. According to Xiaomi Group's founder, chairman, and CEO Lei Jun, the Xiaomi YU7 has a maximum horsepower of 690PS, a top speed of 253 km/h, and a 0-100 km/h acceleration of 3.23 seconds. According to Xiaomi, pre-orders for the YU7 have already surpassed 200,000 units.